Although it *Could* be bad recource management, it sounds to me like parts of your machine are in their death throes. if your monitor is flashing white then that could be the monitor, graphics card, or ram. the sound coming from the hard disk is probably its way of telling you its about to give up the ghost.
the only other possiblity i can think of is overheating, although that is unlikely. best test is to take the side off your case (while its off) and then run it open for a while. if the symptoms subside or go away, then you have an airflow problem, but my money is on dying componants
edit for spelling and grammar
[ 11-07-2003, 06:59 PM: Message edited by: Zero Alpha ]